×

Deutsche Post lowers 2015 profit target after strikes

German postal and logistics company Deutsche Post cut its 2015 profit target on Thursday after taking a 100 million euro ($109 million) hit due to a series of strikes over its plans to expand its parcel division using workers on lower pay.

The company said it now expects 2015 earnings before interest and tax (EBIT) of between 2.95 billion and 3.1 billion euros, compared with a previous group target of between 3.05 billion and 3.2 billion euros this year.

It said, as it reported second-quarter EBIT down 18 percent, that it was confirming its targets for 2016 and 2020.